Canadian Pacific Railway Company, Soo Line Holding Company, and Dakota, Minnesota & Eastern Railroad Corporation, et al.-Corporate Family Transaction-Iowa, Chicago & Eastern Railroad Corporation, 75810 [E8-29451]
Download as PDF
75810
Federal Register / Vol. 73, No. 240 / Friday, December 12, 2008 / Notices
jlentini on PROD1PC65 with NOTICES
Watco currently indirectly controls 19
Class III rail carriers: South Kansas and
Oklahoma Railroad Company, Palouse
River & Coulee City Railroad, Inc.,
Timber Rock Railroad, Inc., Stillwater
Central Railroad, Inc., Eastern Idaho
Railroad, Inc., Kansas & Oklahoma
Railroad, Inc., Pennsylvania
Southwestern Railroad, Inc., Great
Northwest Railroad, Inc., Kaw River
Railroad, Inc., Mission Mountain
Railroad, Inc., Mississippi Southern
Railroad, Inc., Yellowstone Valley
Railroad, Inc., Louisiana Southern
Railroad, Inc., Arkansas Southern
Railroad, Inc., Alabama Southern
Railroad, Inc., Vicksburg Southern
Railroad, Inc., Austin Western Railroad,
Inc., Baton Rouge Southern Railroad,
LLC, and Pacific Sun Railroad, L.L.C.2
Watco states that the purpose of the
proposed transaction is to reduce
overhead expenses, and coordinate
billing, maintenance, mechanical and
personnel policies and practices of its
rail carrier subsidiaries, and thereby
improve the overall efficiency of rail
service provided by the railroads in its
corporate family.
Watco represents that: (1) The rail
lines to be operated by AWR do not
connect with any other railroads in the
Watco corporate family; (2) the
transaction is not part of a series of
anticipated transactions that would
connect the rail lines with any other
railroad in the Watco corporate family;
and (3) the transaction does not involve
a Class I rail carrier. Therefore, the
transaction is exempt from the prior
approval requirements of 49 U.S.C.
11323. See 49 CFR 1180.2(d)(2).
Under 49 U.S.C. 10502(g), the Board
may not use its exemption authority to
relieve a rail carrier of its statutory
obligation to protect the interests of its
employees. Section 11326(c), however,
does not provide for labor protection for
transactions under sections 11324 and
11325 that involve only Class III rail
carriers. Accordingly, the Board may not
impose labor protective conditions here,
because all of the carriers involved are
Class III carriers.
If the verified notice contains false or
misleading information, the exemption
is void ab initio. Petitions to revoke the
exemption under 49 U.S.C. 10502(d)
may be filed at any time. The filing of
a petition to revoke will not
automatically stay the effectiveness of
the exemption. Stay petitions must be
2 Watco notes that it has recently filed a notice
to control another new carrier, but indicates that the
above transaction is expected to be consummated
first. See Watco Companies—Continuance in
Control Exemption—Grand Elk Railroad, LLC, STB
Finance Docket No. 35188 (STB served Nov. 17,
2008).
VerDate Aug<31>2005
17:56 Dec 11, 2008
Jkt 217001
filed no later than December 19, 2008 (at
least 7 days before the exemption
becomes effective).
An original and 10 copies of all
pleadings, referring to STB Finance
Docket No. 35204, must be filed with
the Surface Transportation Board, 395 E
Street, SW., Washington, DC 20423–
0001. In addition, one copy of each
pleading must be served on Karl Morell,
1455 F Street, NW., Suite 225,
Washington, DC 20005.
Board decisions and notices are
available on our Web site at https://
www.stb.dot.gov.
Decided: December 5, 2008.
By the Board, David M. Konschnik,
Director, Office of Proceedings.
Jeffrey Herzig,
Clearance Clerk.
[FR Doc. E8–29314 Filed 12–11–08; 8:45 am]
BILLING CODE 4915–01–P
DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[STB Finance Docket No. 35202]
Canadian Pacific Railway Company,
Soo Line Holding Company, and
Dakota, Minnesota & Eastern Railroad
Corporation, et al.—Corporate Family
Transaction—Iowa, Chicago & Eastern
Railroad Corporation
Canadian Pacific Railway Company
(CPR), Soo Line Holding Company (Soo
Holding), Dakota, Minnesota & Eastern
Railroad Corporation (DM&E), and Iowa,
Chicago & Eastern Railroad Corporation
(IC&E) have jointly filed a verified
notice of exemption under 49 CFR
1180.2(d)(3) for an intra-corporate
family transaction. DM&E currently has
one wholly owned direct subsidiary,
Cedar American Rail Holdings, Inc.
(Cedar American), a noncarrier. Cedar
American has two wholly owned
subsidiaries: IC&E and Wyoming Dakota
Railroad Properties, Inc. (Wyoming
Dakota), a noncarrier. The transaction
involves the merger of Cedar American
and IC&E with and into DM&E, with
DM&E being the surviving corporation.
Upon completion of the transaction,
Cedar American and IC&E would cease
to exist, with Wyoming Dakota
becoming a direct subsidiary of DM&E.
DM&E will continue to be a direct
subsidiary of Soo Holding and a ‘‘sister’’
corporation of Soo Line Railroad
Company.
The transaction is scheduled to be
consummated as soon as practicable
after December 26, 2008, the effective
date of the exemption.
The purpose of the transaction is to
simplify the corporate structure of CPR’s
PO 00000
Frm 00146
Fmt 4703
Sfmt 4703
U.S. carrier subsidiaries, following the
acquisition of control of DM&E and
IC&E by Soo Holding (and, indirectly,
by CPR). The elimination of IC&E and
Cedar American as separate corporate
entities will streamline DM&E’s
corporate structure, reduce
administration expenses, and improve
the overall efficiency of DM&E.
This is a transaction within a
corporate family of the type specifically
exempted from prior review and
approval under 49 CFR 1180.2(d)(3).
The parties state that the transaction
will not result in adverse changes in
service levels, significant operational
changes, or any change in the
competitive status quo with carriers
outside the corporate family.
Under 49 U.S.C. 10502(g), the Board
may not use its exemption authority to
relieve a rail carrier of its statutory
obligation to protect the interests of its
employees. As a condition to the use of
this exemption, any employees
adversely affected by this transaction
will be protected by the conditions set
forth in New York Dock Ry.—Control—
Brooklyn Eastern Dist., 360 I.C.C. 60
(1979).
If the notice contains false or
misleading information, the exemption
is void ab initio. Petitions to revoke the
exemption under 49 U.S.C. 10502(d)
may be filed at any time. The filing of
a petition to revoke will not
automatically stay the transaction.
Petitions for stay must be filed no later
than December 19, 2008 (at least 7 days
before the exemption becomes
effective).
An original and 10 copies of all
pleadings, referring to STB Finance
Docket No. 35202, must be filed with
the Surface Transportation Board, 395 E
Street, NW., Washington, DC 20423–
0001. In addition, one copy of each
pleading must be served on Terence M.
Hynes, Sidley Austin LLP, 1501 K
Street, NW., Washington, DC 20005.
Board decisions and notices are
available on our Web site at https://
www.stb.dot.gov.
Decided: December 9, 2008.
By the Board, David M. Konschnik,
Director, Office of Proceedings.
Jeffrey Herzig,
Clearance Clerk.
[FR Doc. E8–29451 Filed 12–11–08; 8:45 am]
BILLING CODE 4915–01–P
E:\FR\FM\12DEN1.SGM
12DEN1
Agencies
[Federal Register Volume 73, Number 240 (Friday, December 12, 2008)]
[Notices]
[Page 75810]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-29451]
-----------------------------------------------------------------------
DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[STB Finance Docket No. 35202]
Canadian Pacific Railway Company, Soo Line Holding Company, and
Dakota, Minnesota & Eastern Railroad Corporation, et al.--Corporate
Family Transaction--Iowa, Chicago & Eastern Railroad Corporation
Canadian Pacific Railway Company (CPR), Soo Line Holding Company
(Soo Holding), Dakota, Minnesota & Eastern Railroad Corporation (DM&E),
and Iowa, Chicago & Eastern Railroad Corporation (IC&E) have jointly
filed a verified notice of exemption under 49 CFR 1180.2(d)(3) for an
intra-corporate family transaction. DM&E currently has one wholly owned
direct subsidiary, Cedar American Rail Holdings, Inc. (Cedar American),
a noncarrier. Cedar American has two wholly owned subsidiaries: IC&E
and Wyoming Dakota Railroad Properties, Inc. (Wyoming Dakota), a
noncarrier. The transaction involves the merger of Cedar American and
IC&E with and into DM&E, with DM&E being the surviving corporation.
Upon completion of the transaction, Cedar American and IC&E would cease
to exist, with Wyoming Dakota becoming a direct subsidiary of DM&E.
DM&E will continue to be a direct subsidiary of Soo Holding and a
``sister'' corporation of Soo Line Railroad Company.
The transaction is scheduled to be consummated as soon as
practicable after December 26, 2008, the effective date of the
exemption.
The purpose of the transaction is to simplify the corporate
structure of CPR's U.S. carrier subsidiaries, following the acquisition
of control of DM&E and IC&E by Soo Holding (and, indirectly, by CPR).
The elimination of IC&E and Cedar American as separate corporate
entities will streamline DM&E's corporate structure, reduce
administration expenses, and improve the overall efficiency of DM&E.
This is a transaction within a corporate family of the type
specifically exempted from prior review and approval under 49 CFR
1180.2(d)(3). The parties state that the transaction will not result in
adverse changes in service levels, significant operational changes, or
any change in the competitive status quo with carriers outside the
corporate family.
Under 49 U.S.C. 10502(g), the Board may not use its exemption
authority to relieve a rail carrier of its statutory obligation to
protect the interests of its employees. As a condition to the use of
this exemption, any employees adversely affected by this transaction
will be protected by the conditions set forth in New York Dock Ry.--
Control--Brooklyn Eastern Dist., 360 I.C.C. 60 (1979).
If the notice contains false or misleading information, the
exemption is void ab initio. Petitions to revoke the exemption under 49
U.S.C. 10502(d) may be filed at any time. The filing of a petition to
revoke will not automatically stay the transaction. Petitions for stay
must be filed no later than December 19, 2008 (at least 7 days before
the exemption becomes effective).
An original and 10 copies of all pleadings, referring to STB
Finance Docket No. 35202, must be filed with the Surface Transportation
Board, 395 E Street, NW., Washington, DC 20423-0001. In addition, one
copy of each pleading must be served on Terence M. Hynes, Sidley Austin
LLP, 1501 K Street, NW., Washington, DC 20005.
Board decisions and notices are available on our Web site at http:/
/www.stb.dot.gov.
Decided: December 9, 2008.
By the Board, David M. Konschnik, Director, Office of
Proceedings.
Jeffrey Herzig,
Clearance Clerk.
[FR Doc. E8-29451 Filed 12-11-08; 8:45 am]
BILLING CODE 4915-01-P